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Message: Venezuela Economy

Venezuela Economy

posted on Oct 25, 2008 09:35AM

Crisis increases Venezuela's vulnerability



The expansion of democracy has stagnated and the recession caused by the global financial crisis could make it go back in several countries, according to the Economist Intelligence Unit of the British editorial group.

The Economist Intelligence Unit Democracy Index 2008 examines different political regimes in the world. According to the Index, 30 countries have full democracy, 50 have "flawed democracies", 36 are considered to be "hybrid regimes" and 51 are authoritarian, EFE reported.

According to the report, Venezuela is one of the 36 countries that have a "hybrid regime," which combine features of democracy and authoritarianism. It shares the distinction with countries such as Iraq, Haiti, Turkey, Ecuador, Mozambique, Senegal, Ghana, Kenya, Russia y Pakistan, among others.

According to the authors of the report, although almost half of the world's countries can be considered to be democracies, only 14 percent live in "full democracies."

Among the likely effects of the crisis, the report mentions the possible presence of social tensions, which in vulnerable countries and with little democratic tradition could represent a setback for the regime.

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